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On October 1, 2020, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development.

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On October 1, 2020, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development. The company's initial chart of accounts follows. October 1 5. Rey invested $49,000cosh, a $27,000 computer systes, and $9,000 of offlce equipment in the campany in exchange for common stock. October 2. The company poid \$3,300 cosh for four months" cent. Mint: Debit Prepold Rent for $3,300. October 3 The company purchased $2,390 of coeputer supplies on credit from hanris office products. october 5 The company poid $2,100 cosh for one year's premiun on a property and 1ifability insurance pollcy. Hint: Debit Prepoid Insurance for $2,100. October 6 The compony b1lled Easy Leasing $5,500 for seryices perforined In Instalilhg a new web server. october 8 . The company pald $1,390 cash for the conputer supplies purchased from Harris office Products on October 3. october 10 . The company hired lyn Addie as a part-tine assistant. october 12 The company billed Easy leasing another $2,100 for services performed. October 15 The compony recelved $5,500 cash from Easy leasing os partlel paynent on lts account. october 17 the company paId $769 cosh to repair computen equipinent that was damaged when moring it. october 20 . The company pald $1,718 cash for odvertisements. october 22 . The compony recelved $2,160 cash from Easy Leasing on Ite account. october 28 The company b1lled IFM Company $5,708 for services perfocined. october 31 The compeny paid Ssas cash for Lyn Addie's wages for seven days" work. Detober 31 the sompony paid =52,990 cash dividend. October 31 The company paid $805 cash for Lyn Addie's wages for seven days' work. October 31 The company paid a $2,900 cash dividend. November 1 . The company paid $296 cash for mileage expenses. November 2 The company received $5,833 cash from Liu Corporation for computer services performed. November 5 The company purchased computer supplies for $1,160 cash from Harris office Products. November 8 The company billed Gonez Co. $5,968 for services perforned. November 13 The company agreed to perform future services for Alex's Engineering Co. No work has yet been performed. November 18 The conpany received $3,408 cash from IFM Company as partial payment of the October 28 bill. November 22 The company paid $160 cash for niscellaneous expenses. Hint: Debit Miscellaneous Expenses for $160. November 24 The company completed work and sent a bil1 for 34,750 to Alex's Engineering Co. November 25 The company sent another bi11 to IFM Company for the past-due anount of $2,300. November 28 The company paid $348 cash for mileage expenses. November 30 The company paid $1,610 cash for Lyn Addie's wages for 14 days" work. November 30 . The conpany paid a $1,990 cash dividend. Required: 1. Prepare journal entries to record each of the above transactions for Business Solutions. 2. Prepare iedger accounts (in balance column format) and post the journal entries from requirement i to them. 3. Prepare a trialbalance as of the end of November

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